International
Historic Rainfall Inflicts Chaotic Floods Across Four Continents
Severe rains bucketed down on central Europe, Africa, Shanghai and the U.S. Carolinas this week, underscoring the extreme ways in which climate change is altering the weather. Different ...
Sir Charles Roxburgh Named Carnegie-Brown Successor as Lloyd’s Chair
Lloyd's of London, the insurance and reinsurance marketplace, announced that Sir Charles Roxburgh has been named its next chair, subject to regulatory approval. Sir Charles will take up the position ...
Signs of Climate Change Seen Globally: Floods, Fires, Drought
The hallmarks of climate change—extreme heat and drought; larger, more intense wildfires and supercharged hurricanes, typhoons and rainstorms that lead to catastrophic flooding—are being seen and ...
Exploding Pagers in Lebanon Spur Theories on Sabotage Method
From the moment pagers began exploding across Lebanon Tuesday, theories began to circulate on how devices considered outmoded in much of the world were turned into dangerous weapons that killed ...
Brokerage Giants Aon, Marsh Unite In Call for Industry Aid to Ukraine
Highlighting the existence of blanket exclusions in reinsurance contracts for risks originating in the region impacted by the ongoing Russia Ukraine conflict, Aon and Marsh McLennan are jointly ...
Lloyd’s Reports Best First-Half Underwriting Profit Since 2007
The Lloyd's insurance and reinsurance market reported overall profit before tax of £4.9 billion (US$6.4 billion), a 25.6 percent increase from the £3.9 billion (US$5.1 billion) reported during H1 ...Sunk Superyacht Likely to Cost Insurers at Least $150M, Sources Say
Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by ...
New Accounting Rule Forces Change to How AM Best Ranks Top Reinsurers
The implementation of IFRS 17 accounting standards in the insurance industry has forced a modification to AM Best's annual ranking of top reinsurance groups for 2023, the rating agency said. IFRS 17 ...